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TSX Settles At Fresh All-time Closing High

The Canadian benchmark S&P/TSX Composite Index rose to a fresh all-time high on Tuesday, as stocks moved higher on upbeat U.S. earnings reports and crude oil's surge to a six-month high.

Gains in energy and consumer discretionary shares led the market up. Shares from information technology and industrials sections too had a good outing.

Financial, healthcare, consumer staples and materials shares turned in a mixed performance.

The TSX ended up 92.12 points, or 0.56%, at a new all-time closing high of 16,669.40, slightly off the day's best of 16,672.71.

Among energy stocks, PrairieSky Royalty (PSK.TO) jumped 4.4%, Parex Resources (PXT.TO) gained 3.5% and Encana Corporation (ECA.TO) advanced 2.6%.

Canadian Natural Resources (CNQ.TO), Suncor Energy (SU.TO), Imperial Oil (IMO.TO) and Tourmaline Oil Corp. (TOU.TO) ended higher by 1.2 to 2.3%.

Athabasca Oil Corporation (ATH.TO) jumped 4.7% and Whitecap Resources (WCP.TO) gained 2.1%. Baytex Energy (BTE.TO) and Enbridge Inc. (ENB.TO) also rose sharply.

Largo Resources soared 14.2%

In the consumer discretionary space, Dollarama Inc. (DOL.TO) gained 4.1%, BRP Inc. (DOO.TO) climbed up 3.5%, Canada Goose Holdings (GOOS.TO) jumped 3.3% and Gildan Activewear (GIL.TO) advanced 1.1%.

Information technology stocks CGI Inc. (GIB.A.TO), Constellation Software (CSU.TO), Open Text Corporation (OTEX.TO) and Celestica Inc. (CLS.TO) gained 1 to 1.6%.

Among the stocks in the industrials section, Canadian National Railway (CNR.TO), Canadian Pacific Railway (CP.TO), Waste Connections (WCN.TO), CAE Inc. (CAE.TO) and SNC-Lavalin Group (SNC.TO) gained 0.8 to 1.2%, while Bombardier Inc. (BBD.B.TO) gained more than 4%.

Among bank stocks, Royal Bank of Canada (RY.TO), Bank of Nova Scotia (BNS.TO) and Canadian Imperial Bank of Commerce (CM.TO) gained 0.6 to 0.75%.

In the materials section, Nutrien (NTR.TO) gained 1% and CCL Industries (CCL.B.TO) climbed up 2.7%.

Teck Resources (TECK.B.TO) reported adjusted earnings of $568 million or 99 cents per diluted share in the March quarter, down from an adjusted profit of $753 million or $1.29 per diluted share in the same quarter last year. The stock is up 1.7%. The stock ended modestly higher.

On the economic front, data released by Statistics Canada showed wholesale trade increased 0.3% to $63.7 billion in February, recording a rise for a third straight month.

U.S. stocks moved mostly higher as investors reacted positively to upbeat earnings news from several big-name companies, including Dow components United Technologies (UTX) and Coca-Cola (KO).

Twitter, Procter & Gamble and Verizon also reported numbers that beat expectations.

Strong new home sales data too contributed to market's gains.

Major European markets ended on a firm note. Markets across the Asia-Pacific region too closed mostly higher.

In commodities, West Texas Intermediate Crude oil futures for June ended up $0.75, or 1.1%, at $66.30 a barrel, a near six-month high.

Gold futures for June settled at $1,273.20 an ounce, down $4.40, or 0.34% from previous close.

Silver futures for May settled at $14.791 an ounce, down $0.181 from previous close, while Copper futures for May ended down $0.0080, at $2.8935 per pound.

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